Tournaments of heterogeneous candidates can be thought of as probabilistic mechanisms that select high-quality agents. We quantify the efficiency of such selection by the likelihood of selecting the best player, here termed the "predictive power." We study three widely used tournament formats:...

We conducted a survey on risk perception of investment products in the German-speakingarea of Switzerland. Unlike the typical two-factor structure documented in the previousliterature, we found that the knowledge-related scales were highly correlated with the riskrelatedscales, whereas the...

This study examines whether domestic banks perform better than their foreign-owned counterparts, by examining the banking system across eight Southeast Asian countries for the period 1994–2005. According to our results, banks' performance worsened in the post-Asian crisis period. The...